Business in a recession year

1 of 8

Tata Nano

Tata Motors launched its small wonder in March this year. Since its introduction, the Nano has received great media attention - be its low price or its manufacturing address. Originally to be manufactured in West Bengal's Singur district, it got a new home in Gujarat's Sanand district following violent protests that forced Tata Motors to pull out from Singur. Now, Nano owners have to deal with the attention on the roads.

2 of 8

Ramalinga Raju

In the country's biggest corporate fraud involving Rs 7,000 crore, iconic IT company Satyam was hurtling towards disaster following the shocking disclosure of accounts fudging by its founder Ramalinga Raju, who then quit as chairman - leaving an uncertain future for the company and its 53,000 employees. Raju, who is being housed in Hyderabad's Chanchalguda jail, is facing criminal charges for fraud, forgery, cheating, embezzlement and insider trading.

3 of 8

Dubai crisis

Just when the world thought that the worst of the recession was almost over, Dubai crisis came as a shocker and it put the global markets in a spin. In the last week of Nov, the Dubai govt announced it was planning to ask creditors to freeze repayment of debt worth billions of dollars to two of its flagship firms - Dubai World and real estate developer Nakheel.

Dubai World, which runs 49 ports around the world, is the conglomerate that spearheaded the Emirate's breakneck growth. It has USD 60 billion in liabilities and will seek a six-month standstill on its debts with all lenders.

Nakheel was the builder of the famous three palm-shaped islands off the coast of Dubai.

4 of 8

MTN-Bharti deal called off

Talks over a proposed partnership between Bharti Airtel and South Africa's MTN were called off, with Bharti Airtel saying that the South African government is not ready to "accept the deal in its current form."

5 of 8

Inflation

India may boast of a negative or near zero inflation for most part of 2009, but price rise of essential food items made this year the worst for common man. The price situation that was result of worst drought and floods made the cost of living expensive for many. The Congress-led UPA faced the ire of the political parties for the rising cost of living. With rates of essential items still going up, year 2010 will be watched with lot of expectations.

6 of 8

Slow recovery

When the world was reeling under the worst economy downturn, India emerged as a strong economy. The government announced number of packages this year for the Indian economy to bounce back. It did work, but the recovery has been slow. Whether inflation would hurt the economy or the growth would continue is something that will be keenly followed in 2010.

7 of 8

Volkswagen-Maruti deal

Eyeing the strong Indian auto market, Germany's Volkswagen and Suzuki Motor entered a deal. Under the deal, Volkswagen will buy one-fifth stake in Suzuki for $2.5 billion, tapping the Japanese firm's expertise in small cars and its strong hold in India. They plan to develop a small car for the Indian market. Volkswagen is a new entrant in the Indian market, whereas Suzuki's association with India is very old. It is to be seen how their joint product would do in the competitive Indian market where there are already many small car options to choose from.

8 of 8

End of the road for Bajaj scooters

Bajaj's announcement to shut down its scooter business marked the end of an era for many, especially the older generation. For the company, it was result of a gradual transition from scooters to bikes as part of its plans to cater to the youth. Its advertisement campaign 'Hamara Bajaj' will live long in the memories of the people, although the scooter would fade away.

<b>Tata Nano</b><br><br>Tata Motors launched its small wonder in March this year. Since its introduction, the Nano has received great media attention - be its low price or its manufacturing address. Originally to be manufactured in West Bengal's Singur district, it got a new home in Gujarat's Sanand district following violent protests that forced Tata Motors to pull out from Singur. Now, Nano owners have to deal with the attention on the roads.<br>

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<p><b>Ramalinga Raju</b><br><br>In the country's biggest corporate fraud involving Rs 7,000 crore, iconic IT company Satyam was hurtling towards disaster following the shocking disclosure of accounts fudging by its founder Ramalinga Raju, who then quit as chairman - leaving an uncertain future for the company and its 53,000 employees. Raju, who is being housed in Hyderabad's Chanchalguda jail, is facing criminal charges for fraud, forgery, cheating, embezzlement and insider trading.</p>

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<p><b>Dubai crisis</b><br><br>Just when the world thought that the worst of the recession was almost over, Dubai crisis came as a shocker and it put the global markets in a spin. In the last week of Nov, the Dubai govt announced it was planning to ask creditors to freeze repayment of debt worth billions of dollars to two of its flagship firms - Dubai World and real estate developer Nakheel. </p>
<p>Dubai World, which runs 49 ports around the world,&nbsp; is the conglomerate that spearheaded the Emirate's breakneck growth. It has USD 60 billion in liabilities and will seek a six-month standstill on its debts with all lenders. <br><br>Nakheel was the builder of the famous three palm-shaped islands off the coast of Dubai.</p>
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<p><b>MTN-Bharti deal called off</b><br><br>Talks over a proposed partnership between Bharti Airtel and South Africa's MTN were called off, with Bharti Airtel saying that the South African government is not ready to "accept the deal in its current form."</p>

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<p><b>Inflation</b><br><br>India may boast of a negative or near zero inflation for most part of 2009, but price rise of essential food items made this year the worst for common man. The price situation that was result of worst drought and floods made the cost of living expensive for many. The Congress-led UPA faced the ire of the political parties for the rising cost of living. With rates of essential items still going up, year 2010 will be watched with lot of expectations.</p>

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<p><b>Slow recovery</b><br><br>When the world was reeling under the worst economy downturn, India emerged as a strong economy. The government announced number of packages this year for the Indian economy to bounce back. It did work, but the recovery has been slow. Whether inflation would hurt the economy or the growth would continue is something that will be keenly followed in 2010. </p>

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<b>Volkswagen-Maruti deal</b><br><br>Eyeing the strong Indian auto market, Germany's Volkswagen and Suzuki Motor entered a deal. Under the deal, Volkswagen will buy one-fifth stake in Suzuki for $2.5 billion, tapping the Japanese firm's expertise in small cars and its strong hold in India. They plan to develop a small car for the Indian market. Volkswagen is a new entrant in the Indian market, whereas Suzuki's association with India is very old. It is to be seen how their joint product would do in the competitive Indian market where there are already many small car options to choose from.

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<p><b>End of the road for Bajaj scooters</b><br><br>Bajaj's announcement to shut down its scooter business marked the end of an era for many, especially the older generation. For the company, it was result of a gradual transition from scooters to bikes as part of its plans to cater to the youth. Its advertisement campaign 'Hamara Bajaj' will live long in the memories of the people, although the scooter would fade away.</p>